Value, Exchange Value and the Internal Consistency of Volume III of Capital: A Refutation of Refutations

Andrew J. Kliman

Chapter 3 in Marxian Economics: A Reappraisal, 1998, pp 29-42 from Palgrave Macmillan

Abstract: Abstract For a full century, critics have tried to show that Marx’s value theory is internally inconsistent. Yet these critics invariably reduce value to exchange value, whereas Marx increasingly stressed their difference. Once this reduction is rejected, key aspects of Marx’s value theory — the transformation of values into production prices and the law of the tendential fall in the profit rate — reemerge as internally consistent.

Keywords: Full Century; Real Wage; Production Price; Relative Prex; Fixed Capital (search for similar items in EconPapers)
Date: 1998
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-26121-5_3

Ordering information: This item can be ordered from
http://www.palgrave.com/9781349261215

DOI: 10.1007/978-1-349-26121-5_3

Access Statistics for this chapter

More chapters in Palgrave Macmillan Books from Palgrave Macmillan
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().